A prenuptial agreement is a signed and notarized agreement made by a couple before marriage that concerns various financial issues such as the control and possession of property and other assets taken into the marriage and later obtained during the marriage either individually or jointly, as well as the couple’s future earnings, and how such property as assets will be distributed in the event of divorce or death.
If you're trying to decide whether or not to make a prenuptial agreement, you'll need to understand what this type of contract can, and cannot do for you.
Some disadvantages if you don’t make a prenuptial agreement, your state’s laws determine who owns the property that you acquire during your marriage, as well as what happens to that property at divorce or death. State law may even have a say in what happens to some of the property you owned before you were married. Some more disadvantages are there is never the perfect time and some state laws may protect you without a prenup. Some things prenups can’t deal with are custody of the children, visitation to the children, and child support.
Not only do the rich need prenups. Some reasons why you may get a prenup is because past separate property to children from prior marriages, clarifying financial rights, avoiding arguments in case of a divorce, and getting protection from debts. 5- 15 percent of people enter into a prenuptial agreement.
1. Would you ever consider a prenuptial agreement if you were wealthy or poor (in debt)?
2. Would you ask your spouse to sign the prenuptial agreement?
3. Do you feel prenuptial agreements are very important with our society?
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I think that 5-15% of people putting together prenups is such a low number. If there is one thing I have learned in life is to protect myself and that includes my money. I am investing time and money into college and thus hope to come out of it with a good paying job and future assets. If I do get married someday I would only expect to have some sort of prenuptial in case of divorce or death so that I was financially okay. Divorces cost so much already why add on top of that time and money. I know some people look at prenups as a means to the end but in today's society and with the economy the way it is, it is necessary to have a back up plan. Rich or poor you have to have something in writing saying what would happen to your property and money in case of separation.
ReplyDeleteI think if I were getting married a prenup would not be a bad idea. With the divorce rate being as high as it is I think that in the long term, if me and my wife were to get divorced it would save a lot of arguement over our assests, but I would only expect to get back what I brought into the marriage. If I was wealthy a prenup would be a much bigger priority, but at the same time, if I were in poverty I would still want to get everything back that belongs to me. I do feel that prenuptial agreements are important today, because people are struggling to make ends meet the way it is, and the last thing they need is to get shafted in a divorce. Overall I think prenups are a good way to ensure that a person's assests going into a marriage are safe.
ReplyDeleteI would not consider a prenupual agreement because I think that one should know the person they are marrying before they get married to be able to trust them with their money. I am fully aware about the divorce rate being so high in our society but that is not a concern to me. I think it is totally fine if others choose to have them but personally I just don't want one.
ReplyDeletePersonally, I do not like the idea of a pre-nup. I think it is a good idea with society getting divorces the way they are these days but it just seems like a crazy idea to me. To me it says "I want to be with you but in the end I want this and this and this?" It just makes marriage seem like an unsure thing to me. I also think they are good in certain ways too because divorces never end good they usually end in fighting. This way you could get this out of the way and make sure you get what is rightfully yours. I suppose if I was in the position I might get one or I might not.
ReplyDeleteI personally would not get a prenup also I hope that my husband someday would also respect my wishes of not having one. To me a prenup is a great thing for someone else, but not for me personally. I do think with our society it would be a good thing to kept prenups around with our divorce rate being so high.
ReplyDeleteI would most deffinitely get a prenup. Don't get me wrong, if I am going into a marriage I am going to give it all I have, and I would hope that the person I marry would feel the exact same but you can't control everything in life. There could be a million and one reasons for the marriage to not work out as planed. It may be a touchy and awkward subject to bring up and discuss but in the long run you would be very greatful for taking the time to consider it. Divorce's and death are very messy and not at all easy to deal with, by having the reassurance of a prenup and being able to own everything that is rightfully yours in the end can really make the situation run a lot smoother. You can never predict the future so you might as well plan ahead for it.
ReplyDeleteI would consider it, as well as brooch the subject and ask what she would thinks of the idea and off that conversation would ponder the pro & con, as far as if everything goes wrong want would I lose and could I live with that or not. On the subject of debt would be hard, if say she just got done with school & had say 60K in debt and I have perfect credit or if it is the other way around.
ReplyDeleteIf I was rich then maybe because I would hate to marry someone and 2 years down the road and be like Adnan Kashoggi, a wealthy Saudi trader, paid his Wife Soraya “$750
million to settle the divorce – about 1/3 of his net worth at the time. Or worst half which is $1,125,000,000,000.
Would you ask your spouse to sign the prenuptial agreement?
Depends at what stage in life the situation presents it self.
pre-marriage contracts as “social insurance”
The presence of a pre-marriage contract may remove a mental barrier to engaging in bad behavior. Because if it is not stated, the implactions of actions, the person could be like I get X back if it is ended and so if I get caught well I will not lose much.
Do you feel prenuptial agreements are very important with our society?
Yes, I feel that they serve a purpose because the situation that created it's forerunner legal bases was the Married Women's Property Act of 1848, before that act became law, everything a woman owned or inherited was transferred to her husband. If he died or divorced her, she could lose everything.
2. Would you ask your spouse to sign the prenuptial agreement?
ReplyDeleteI would not get married to anyone no matter how much I love them without a prenuptial agreement. I think it is important to protect yourself, even if you don’t see any reason to get a prenuptial agreement at the time of marriage. In addition I think people should recognize the number of marriages that end in divorce (for whatever reason). I know I would want to have some kind of prenuptial agreement.
I think that inherently getting a prenupt is denying your trust in your partner. However in cases this may be warranted. Personally i don't think i would ever get a prenupt as I'm quite confident(overly so) in my ability to judge people and all foreseeable consequences.
ReplyDelete